Bank of New York Mellon Corp Sells 239,221 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Bank of New York Mellon Corp lowered its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 16.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,255,572 shares of the transportation company's stock after selling 239,221 shares during the quarter. Bank of New York Mellon Corp owned 0.78% of Knight-Swift Transportation worth $54,605,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in shares of Knight-Swift Transportation by 40.0% in the 1st quarter. UMB Bank n.a. now owns 1,133 shares of the transportation company's stock valued at $49,000 after purchasing an additional 324 shares in the last quarter. Quarry LP raised its stake in Knight-Swift Transportation by 41.6% during the fourth quarter. Quarry LP now owns 1,701 shares of the transportation company's stock valued at $90,000 after buying an additional 500 shares in the last quarter. Generali Asset Management SPA SGR bought a new position in Knight-Swift Transportation during the 4th quarter worth approximately $99,000. Quadrant Capital Group LLC grew its position in shares of Knight-Swift Transportation by 21.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,139 shares of the transportation company's stock worth $113,000 after acquiring an additional 375 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Knight-Swift Transportation by 8.5% in the 4th quarter. Signaturefd LLC now owns 2,769 shares of the transportation company's stock valued at $147,000 after acquiring an additional 218 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

Knight-Swift Transportation Trading Down 0.8%

Shares of Knight-Swift Transportation stock traded down $0.36 during trading on Wednesday, hitting $45.06. The stock had a trading volume of 2,269,544 shares, compared to its average volume of 2,417,917. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $7.30 billion, a PE ratio of 47.94, a P/E/G ratio of 0.70 and a beta of 1.17. Knight-Swift Transportation Holdings Inc. has a 1 year low of $36.69 and a 1 year high of $61.51. The stock has a 50 day simple moving average of $44.73 and a 200 day simple moving average of $47.05.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.83 billion. Knight-Swift Transportation had a net margin of 2.04% and a return on equity of 2.79%. The company's quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 EPS. On average, research analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Monday, June 9th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Monday, June 9th. Knight-Swift Transportation's payout ratio is presently 76.60%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. TD Cowen decreased their price objective on shares of Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Raymond James Financial lifted their price target on shares of Knight-Swift Transportation from $50.00 to $55.00 and gave the company a "strong-buy" rating in a report on Tuesday. Susquehanna raised their target price on shares of Knight-Swift Transportation from $45.00 to $52.00 and gave the stock a "positive" rating in a report on Tuesday, June 24th. UBS Group lowered their target price on Knight-Swift Transportation from $63.00 to $46.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Robert W. Baird began coverage on Knight-Swift Transportation in a report on Tuesday, July 1st. They issued an "outperform" rating and a $55.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $53.06.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.